- IAG announces a €350 million share buyback to reduce share capital, reflecting confidence in its strategy and long-term prospects.
- The program, involving Goldman Sachs and Morgan Stanley, starts 11 Nov 2024, ending by 28 Feb 2025.
- Qatar Airways maintains its stake by selling shares to the banks proportionate to market purchases.
- The buyback complies with EU regulations, with purchases on the London and Spanish exchanges.
Fri Nov 08 08:01:42 -0000 2024 UTC– International Consolidated Airlines Group announces a €350 million share buyback program, demonstrating confidence in the company’s strategy and financial performance.
The program focuses on maintaining a strong balance sheet, investing in business transformation, and providing sustainable shareholder returns. The buyback will be executed through market purchases and transactions with Qatar Airways, aiming to reduce share capital.
The program will run from November 11, 2024, to February 28, 2025, managed by Goldman Sachs and Morgan Stanley.